RES 20-14Of
\-Awl� City of Elk River
.ver City Council
Resolution 20-14
A Resolution of the City Council of the City of Elk River Consenting to the
Bank Financing for the Elk River Branch of the Boys & Girls Clubs of 10,000
Lakes
WHEREAS, the City of Elk River has and continues to be a strong supporter of the Boys
& Girls Club of the North Star - Elk River Branch; and
WHEREAS, the City has a Ground Lease Agreement, dated March 16, 1999, with the Elk
River Branch of the Boys & Girls Club which requires the city to consent to any mortgage or
other security interest in the Boys & Girls Club building; and
WHEREAS, the Elk River Branch of the Boys & Girls Club is seeking a note from
MidWestOne Bank to be used for capital improvement projects; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: the city is aware of and supports the Boys & Girls Club board -
approved capital plan and consents to this financing which complies with the terms of the
Ground Lease dated March 16, 1999.
Passed and adopted this 18' day of February 2020.
ATTEST:
1.
( (
Tina Allard, City Clerk
]A,JA, n J. ie ayor
PD■ERE® 61
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